Aussie Broadband (ASX:ABB) is making headlines, with its stock value rising as much as 7.7% to A$3.340.

This comes with anticipation of marking its best day since late February if the current gains hold.

The telecom firm’s highest level since early May has been hit.

Additionally, the company posted a full-year net profit after tax of A$21.7 million, a significant increase from the previous year’s profit of A$5.3 million.

The company’s ordinary activities generated revenue that rose to A$788.0 million from A$546.9 million.

A strong start to FY2024 has been indicated by Aussie Broadband, with a projected capex sitting between A$47 million to A$52 million.

However, according to analysts at Jefferies, the company’s FY2024 guidance is currently below the brokerage’s expectation.

As of its most recent close, the stock had risen 18.8% for the year.

Aussie Broadband is an Australian telecommunications company specializing in internet and mobile phone services.